I spend a lot of time thinking about the future – and where home prices will go from here.
2023: Rental affordability has never been higher as compared to mortgage affordability.
From my July 2023 Timing Letter:
“Many believe that home ownership is always attractive as a way of avoiding paying rent, but without substantial price appreciation, ownership is always more expensive than renting.”
“If you are a potential home seller, enjoy this wide discrepancy while it lasts. The cost to buy vs. rent has always returned to normal levels in the past, and I expect it to return to normal levels in the future.”
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